03 Jul Bonita Bay Real Estate News | July 2017
As of July 1, 2017, there are 101 active listings in MLS in Bonita Bay, 10 less than last month. There are 30 single-family homes ranging in price from $489,900 to $4,550,000. The average list price is $1,306,167 and the average days on the market is 124. The combined days on the market is 165. In the carriage, mid-rise, townhouse, and attached villa market, there are 38 active listings in Bonita Bay. Prices range from $159,900 to $599,000. The average list price is $383,513. The average of days on the market is 117. The combined days on the market is 201. In the high-rise market, there are 33 active listings in Bonita Bay ranging in price from $425,000 to $2,750,000. The average list price is $1,485,497 and the average days on the market is 183. The combined days on the market is 183.
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SUMMARY OF BONITA BAY HOME SALES
If you are considering selling your Bonita Bay home, here are some statistics that may help you decide to place your home on the market:
- Within the last 12 months, there were 82 sales with an average sales price of $370,627; these condos were on the market an average of 70 days; combined days on the market is 132.
- During the 12 months previous, there were 75 sales with an average sales price of condominiums was $405,918; these homes were on the market for 54 days; combined days on the market is 120.
- During the last 12 months, there were 24 sales with an average sales price of $1,408,379; these homes were on the market an average of 154 days; combined days on the market is 232.
- During the 12 months previous, there were 33 sales with an average sales price of $1,370,545; these homes were on the market for an average of 141 days; combined days on the market is 245.
SINGLE-FAMILY BONITA BAY HOMES
- During the last 12 months, there were 78 sales with an average sales price of $1,170,026; these homes were on the market an average of 102 days; combined days on the market is 204.
- During the 12 months previous, there were 69 sales with an average sales price of $1,060,734; these homes were on the market for an average of 91 days; combined days on the market is 173.
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JULY MARKET UPDATE
“To date, our closings are ahead of last year,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty, Inc. “Home sales during the summer months have become stronger over the past few years. Those who let a listing expire at the end of our winter season are missing a huge opportunity to sell their property during the summer months. We have closed over 1,600 transactional sides this year. This puts us on pace to close over 3,000 transactional sides for 2017. Our closed sales volume exceeds $800 million, and 100+ real estate agents joined our firm this year. We’re in a great position going into summer.”
May 2017 pointed to a market that is heating up, as shown by a 14 percent rise in pending sales. The Bonita Springs/Estero market shows that 18 percent of the inventory experienced a price reduction in the last month. “Sellers must remember that this area is not a seasonal market anymore,” stated Jerry Murphy, Managing Broker, Downing-Frye. “Buyers spend a lot of time online before and while they work with their REALTOR® to watch inventory before they make appointments to see the properties of interest to them.” He added, “Buyers are savvy and will not waste time waiting for a price reduction before they move on to the next property.” The active inventory as of the end of May was 1,566 properties, almost the same number as the end of May 2016.
FLORIDA: BUYER DEMAND FUELS PRICES
Florida’s housing market reported more closed sales, higher median prices, more new listings and more pending sales in May. In May, sellers of existing single-family homes received 96.4 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.7 percent. “Closed sales of existing homes in the Sunshine State not only rebounded from a relatively flat April, they positively surged to record highs in May of 2017,” said Florida Realtors® Chief Economist Dr. Brad O’Connor. “To be more specific, May’s sale totals of 27,850 existing single family homes and 11,538 existing condos and townhomes were the most ever recorded (by Florida Realtors) for a single month in either property type category. In both cases, these totals were also markedly higher than the very strong number of sales racked up in May of 2016.”
USA: MEDIAN SALES PRICE AT NEW HIGH
Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low. The median existing-home price for all housing types in May was $252,800. This surpasses last June ($247,600) as the new peak median sales price, is up 5.8 percent from May 2016 ($238,900) and marks the 63rd straight month of year-over-year gains. Properties typically stayed on the market for 27 days in May, which is down from 29 days in April and 32 days a year ago; this is the shortest timeframe since NAR began tracking in May 2011. “With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month,” said Lawrence Yun, NAR chief economist.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®.
Bonita Bay Electrician Gets Master Certification
Keeping a community like Bonita Bay at its tip-top best takes a team of well-skilled employees who are passionate about their work and its environment. Fortunately for the residents of Bonita Bay, there is a dedicated crew tasked with keeping order to the utilities of the property. Most people are likely unaware that included in the employees that help keep Bonita Bay operating at an exceptional level include an on-site arborist, hard scape team, and as of recently, this team now includes a master certified electrician.
The Bonita Bay Community Association proudly announces that five-year employee Mason Corbin received his “Master Electrician Certification” in February. This achievement is something that Mason has been working on for a several years – beginning with a journeyman certification, then putting extreme time and effort into a master certification.
“The Bonita Bay Community Association supports employees’ career goals and efforts by providing training to assist with licensing and self-improvement. We believe it’s important to show our employees that if you come forward with opportunities that relate to your job, we can help you achieve your career goals. We were happy to help Mason achieve his career goals by providing him what he needed to gain his master certification. Mason is a model employee who takes the toughest of tasks head-on. We have tremendous faith in his abilities, skill-set and dedication to his work. Mason holds himself to a high-standard – always completing a task with the end goal of long-term functionality in mind.”-Wilson Cypher, Assistant Director of Grounds Maintenance for Bonita Bay
Mason is responsible for most of the repairs, installation and regular maintenance of electrical equipment at Bonita Bay. He spends a majority of his time on lighting, but he also does a multitude of electrical work including planning projects, operating within specified budgets and providing supervision, as necessary. Mason has played an integral part on various community projects such as the bocce ball court update, River Walk park dock lights, Eagles Nest bridge LED conversion, and the main entrance construction, as well as a litany of smaller projects.
A Word from Downing-Frye Broker & General Manager, Mike Hughes
The June numbers are starting to roll-in for our company. We now have 1,292 listings. This listing total is among the highest in the area. Our closed sales volume for June was $141 million. The June closed sales volume was down slightly from last June when we closed $163 million. Our year-to-date closed sales volume is now sitting at $870 million. There is a good chance that our Downing-Frye BILLION-DOLLAR PARTY will be held in late July or early August as we throw a party when we hit one-billion in closed sales volume for the year. In some years, this party occurs in November; this year, it will be a summer event!
Bonita Bay JULY Events Calendar
July 4 | 4th of July Tournament | 8:30 a.m. Shotgun
July 7 | Men’s Interclub – Country Club Naples
July 14 | Men’s Interclub – Countryside
July 21 | Men’s Interclub – Twin Eagles
July 21 | Wedge Clinic
July 28 | Men’s Clinic
July 29 | Women’s Clinic
July 5 | Wimbledon Party
DINING & SOCIAL
July 7 | POETS Night “Billy Dean & Dawn”
July 13 | Trivia Night
July 14 | POETS Night “Randy & Lori”
July 18 | Chef’s Cooking Class
July 21 | POETS Night “Mirage”
July 25 | Beverage Demo
July 28 | POETS Night “Kelly & Shelly”
Interactive Views from SEAGLASS
Official Bonita Bay Club Brochure
Looking for an overview of the Bonita Bay Club for yourself or to send to others? Here’s a quick look at the Bonita Bay Club’s five championship golf courses designed by two legendary architects; an 18-court tennis center; two welcoming clubhouses; Lifestyle Center with a state-of-the-art fitness center and spa; and, a world-class staff — the elements that make Bonita Bay Club South Florida’s premier country club.
Owned and governed by its members since 2010, Bonita Bay Club offers membership levels in golf and sports that suit the preferences of active Bonita Bay residents. In addition, limited golf memberships are available for the the Naples Club only. Download brochure.